Biden's helping out Losers

IRS to Cancel $1 billion in Penalties for Unpaid Back Taxes

I guess this will help Hunter? Oh, that's right, the statute of limitations gets him off the hook on that.

On Tuesday, the Internal Revenue Service (IRS) declared a major step to help individuals, businesses, and tax-exempt organizations that are indebted for taxes in 2020 and 2021.

The agency announced waiving $1 billion worth of penalty fees related to these back taxes. The IRS noted that roughly 4.7 million people were impacted by this failure-to-pay penalty relief.

This decision was made due to collection reminders being suspended during the COVID-19 lockdown period; although notices ceased, penalties for failing to pay continued accumulating.

The IRS noted that most relief recipients make under $400,000 annually. Right.

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